Str's. How are they feeling these days.

Cleaver

mr.broderick wrote: »

Ps i think gemsy 62 may fancy you cleaver....

That's the price you pay for being incredibly witty, intelligent, good looking and modest, I'm afraid.

(joke also © Les Dawson, 1952).

I've seen her post and am trying to think of a response without calling her an idiot. It's taking a while, but I'll get there.

PasturesNew

mr.broderick wrote: »

I know it is, but i would never be mean to you. You are my favourite.

Internet Groomer Alert!

lynzpower

Mr_Matey wrote: »

I agree that the current situation isn't so great for savers, but you feel for those who chose to STR ???

People who sold at the peak, pocketed the benefits of a housing boom and are now financially way better off than if they'd held their property.

I feel really sorry for those who've won the lottery too, because the interest on their winnings isn't making them the moola it used to...

As A str-er I totally agree with this :T

Much as Id love to come over all Krustiesque there was nothing overly wise about what I bought and where it was. I was just lucky enough to get pointed in the direction of this website, which having devoured real economic knowledge (!!) for once in my life from normal everyday people, I realised how bad it COULD be.

There was a phrases kicking about on this website quite a lot back when I first joined about selling property at that time "along comes the next mug" This to me made me utterly grateful to the muppet that I sold my flat too. There was no way that my 2 bed SO flat was worth 300k! ( bought 2 years earlier for less than 200k.

You know the world is going mad, so best to throw the towel in because playing catch up in this sort of market was never going to do me any good.

I have more money now than when I soold because my outgoings are a lot less. I love the flexibility of being able to move when & where we want to, if we had to move away for work, we could do that, if we want to buy we can, if we want to stay here we can. Nothing ties us at all, and that flexibility and freedom is really priceless.

I am so glad im not going to be one of those people who unfortunately lose thier job and thier home into the bargain. I really feel for those people, because they cling onto a pile of bricks because of what they had to sacrifice to get and keep it.

I wont be buying for a while, I too watch the prices plunge and wonder shall i phone for a viewing, but its not what we want. Mortgage interest is simply too mcuh of a waste of money to me and we have a great life where we are. I just dont think it would be any better to have a mortgaged home- cant see how it could be

lynzpower

exact percentage drop that the big funds (jupiter, fidelity etc) have made since 2006 but it was definitely the right time to exit.

not wrong there, Jupiter Isa is about 5k now from 7 bought in 08 issue. ( ecology)

*wry smile *

mr.broderick

lynzpower wrote: »

As A str-er I totally agree with this :T

Much as Id love to come over all Krustiesque there was nothing overly wise about what I bought and where it was. I was just lucky enough to get pointed in the direction of this website, which having devoured real economic knowledge (!!) for once in my life from normal everyday people, I realised how bad it COULD be.

There was a phrases kicking about on this website quite a lot back when I first joined about selling property at that time "along comes the next mug" This to me made me utterly grateful to the muppet that I sold my flat too. There was no way that my 2 bed SO flat was worth 300k! ( bought 2 years earlier for less than 200k.

You know the world is going mad, so best to throw the towel in because playing catch up in this sort of market was never going to do me any good.

I have more money now than when I soold because my outgoings are a lot less. I love the flexibility of being able to move when & where we want to, if we had to move away for work, we could do that, if we want to buy we can, if we want to stay here we can. Nothing ties us at all, and that flexibility and freedom is really priceless.

I am so glad im not going to be one of those people who unfortunately lose thier job and thier home into the bargain. I really feel for those people, because they cling onto a pile of bricks because of what they had to sacrifice to get and keep it.

I wont be buying for a while, I too watch the prices plunge and wonder shall i phone for a viewing, but its not what we want. Mortgage interest is simply too mcuh of a waste of money to me and we have a great life where we are. I just dont think it would be any better to have a mortgaged home- cant see how it could be

Yes i think it is the right thing to do for young couples with no children most definitely. Hpi was good to you lynz don't forget, it got you out of a load of debt, fair play to you.

mr.broderick

PasturesNew wrote: »

Internet Groomer Alert!

You wish hunny.

lynzpower

mr.broderick wrote: »

Yes i think it is the right thing to do for young couples with no children most definitely. Hpi was good to you lynz don't forget, it got you out of a load of debt, fair play to you.

No I think you remembered it wrong, I did have debts, put paid them off cutting back and selling things on ebay courtesy of the wonderful advice on this site. I still owed my parents 2.5k which ironically they had lent me towards the deposit on the flat. 2.5 isnt a load Id say some people would spend that on a holiday

mr.broderick

lynzpower wrote: »

No I think you remembered it wrong, I did have debts, put paid them off cutting back and selling things on ebay courtesy of the wonderful advice on this site. I still owed my parents 2.5k which ironically they had lent me towards the deposit on the flat. 2.5 isnt a load Id say some people would spend that on a holiday

I stand corrected

daveb975

Davesnave wrote: »

Perhaps some rather broad assumptions here that can't remain unchallenged.
Last year, we had to listen to people telling us we'd 'missed the boat.' Now, we are earning a pittance and are very lucky!

We can earn 6.25%+ interest until the end of November 2009. Savers could fix rates at that level with quick access until about 14th November 2008, so we did.

We are not in a 'fortunate position' in the sense of being lucky to STR. Having lived within our means, worked a lifetime and paid-off our mortgages, we've just been careful & responsible. We're 'fortunate' that in the meantime, we didn't fall under a bus, contract a terminal illness, or something like that.

OK, perhaps fortunate is the wrong word, but most recent STRs are people that played the market just right. A lot of people on here complain about how people who bought a house 10 years ago have seen it rocket in value without doing anything for it. Well, STRs have had that benefit and will have the benefit of keeping most of the money when they buy back in a few years time at a much lower value.

That is fair enough as STRs who timed it right getting out deserve the money just as much as BTLers who bought near the bottom last time. I would say that earning enough interest to pay off all of their rent whilst they are watching the market go down is a fortunate position, though, but perhaps my expectations are just too low.

Pobby

I`m amazed how some of you guys called the market right at the top! I had my doubts far earlier on that the market would crash. Had no intention of becoming an str but if I had, might well have bailed out around 2002/3. From what I gather over on HPC some did!